Live
- They always want me to win, and now I feel lucky to have been offered a story like ‘Zebra’: Satyadev Kancharana
- ‘Democracy first, humanity first’: PM Modi in Guyana's parliament on two countries' similarities
- PKL Season 11: Telugu Titans register third straight win to top standings
- Is Pollution Contributing to Your COPD?
- NASA Unveils Underwater Robots for Exploring Jupiter's Moons
- Additional Central forces arrive in violence-hit Manipur
- AR Rahman and Saira Banu’s Divorce: Legal Insights into Common Issues in Bollywood Marriages
- 82.7 pc work completed in HPCL Rajasthan Refinery area: official
- Curfew relaxation extended in 5 Manipur districts on Friday
- Tab scam prompts Bengal govt to adopt caution over fund disbursement
Gets Rs 10 out of every Rs 100 saved
Nearly Rs10 out of every Rs100 saved by the Indian household each year goes to LIC, making it larger than even the perceived staple of household savings, a deposit with SBI, foreign brokerage UBS said in a report.
New Delhi: Nearly Rs10 out of every Rs100 saved by the Indian household each year goes to LIC, making it larger than even the perceived staple of household savings, a deposit with SBI, foreign brokerage UBS said in a report.
LIC garners the lion's share of household savings flow at about 10 per cent each year; the number has come off over the years. LIC maintains lead over SBI's deposits, the next largest destination for household savings in India, UBS said.
Media reports suggest the government is looking to tap into LIC's large customer base (280m policies, about one per family in India) to generate buying interest in the IPO.
UBS said the issue's sheer scale means the market's appetite will be tested. 2021 saw record total capital-raising of $34 billion of which IPOs accounted for $16 billion.
The government's target for LIC is 25 per cent of last year's capital-raising total. In 2021, retail investors accounted for 32 per cent of IPO subscription, and domestic institutional investors 21 per cent (a common source of both would be household savings).
